Abstract: In telescopic homotopy theory, a space or spectrum is approximated by a tower of localizations , , taking account of -periodic homotopy groups for progressively higher . For each , we construct a telescopic Kuhn functor carrying a space to a spectrum with the same -periodic homotopy groups, and we construct a new functor left adjoint to . Using these functors, we show that the th stable monocular homotopy category (comprising the th fibers of stable telescopic towers) embeds as a retract of the th unstable monocular homotopy category in two ways: one giving infinite loop spaces and the other giving ``infinite -suspension spaces.'' We deduce that Ravenel's stable telescope conjectures are equivalent to unstable telescope conjectures. In particular, we show that the failure of Ravenel's th stable telescope conjecture implies the existence of highly connected infinite loop spaces with trivial Johnson-Wilson -homology but nontrivial -periodic homotopy groups, showing a fundamental difference between the unstable chromatic and telescopic theories. As a stable chromatic application, we show that each spectrum is -equivalent to a suspension spectrum. As an unstable chromatic application, we determine the -localizations and -localizations of infinite loop spaces in terms of -localizations of spectra under suitable conditions. We also determine the -localizations and -localizations of arbitrary Postnikov -spaces.